Credits: Freedom Magazine
Volume1 / Issue 3 / pg 6
Here's the rest of the story, my multi-millionaire friend shared.
FM: "The first type of income is linear income. It's when you trade
time for money. If you are like most people, you have to work
for a living. If you don't work, you don't get paid.
When a school bus driver drives a school bus, he gets paid. When
his shift is over at 5 p.m., he stops getting paid.
When a surgeon performs surgery, she gets paid. When her shift
is over at 5 p.m., she stops getting paid."
What he told me next really opened my eyes.
"Even though the surgeon gets paid a lot more, ultimately both
the school bus driver and the surgeon are in the exact same boat.
They are both trading time for money."
That's how linear income works. You receive income when you work.
When you stop working, your income stops. Linear income continues
only as long as you continue to work."
The second type of income is a lot different. He called it Royalty Income.
JN: " Now this I want to know more about. Stay tuned in for Part 3 of
The Secret Income of Multi-Millionaires. See you all tomorrow."
Judy~
2 comments:
Great blog. It is so important for people to understand the difference between those two incomes.
Thanks Judy!
Angela
http://www.toddbobal.com
Great Stuff Judy!
It's so important that people understand the difference between linear income and royalty (residual) Income!
I can't wait to see what comes next!
Justin
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